Premiums drop for top Chinese firms' debt

Aluminum Corp of China sold February 2014 debt at 3.75 per cent last month. Photo: Reuters

Top-rated companies on the mainland are paying the lowest premiums to sell debt in nearly 27 months, showing investor confidence in state-backed firms even as the overall economy flags.

Friday, 7 June, 2013, 3:46am

Shrinking returns of the dim sum iBond

Citizens go to bank in Kwun Tong for the third issue of iBonds. Photo: Dickson Lee

The first government iBond series was a great investment. The one that starts taking subscription this week will probably disappoint. That's because more people are waking up to its almost-sure profit, leading to a division of the pie that will probably leave only crumbs to investors - an allotment or two of HK$10,000 each.

5 Jun 2013 - 12:47am 3 comments

Hong Kong to snap up government offer of inflation-linked bonds

The new 'iBonds' are expected to be sold with an underlying reference rate of inflation of 3.5 per cent and raise about HK$10 billion for the government. Photo: May Tse

The Hong Kong Monetary Authority's anticipated sale of a third tranche of inflation-linked bonds is set to meet with a rich vein of demand despite a recent decline in the rate of consumer price rises.

17 May 2013 - 6:35am

China Railway suffers first-quarter loss, bond sale prospectus shows

China Railway Corp suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter. Photo: Bloomberg

China Railway Corp, the spin-off from the now-defunct Chinese Ministry of Railways, suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter, compared with an after-tax profit of 196 million yuan for the whole of 2012, according to its first bond prospectus.

10 Jan 2014 - 11:27am

Illegal interbank bond dealers face clampdown in China

Wang Qishan

Illegal trading of bonds on the interbank market is being targeted by law enforcement authorities and financial regulators on the mainland, a move likely to unearth a clutch of unethical money managers. The central bank held a meeting with the heads of the mainland's commercial lenders yesterday to discuss the control of illegal bond transactions.

25 Apr 2013 - 5:36am

Sinopec bond issue taps market for US$3.5b

Sinopec bond issue taps market for US$3.5b

Sinopec, which was also the world's second-largest crude oil refiner by throughput last year, said in a statement to the Hong Kong stock exchange yesterday that the proceeds would be used to fund the acquisition of overseas assets from its parent firm, China Petrochemical, investments in overseas business and repayment of bank debt.

20 Apr 2013 - 5:35am

NDRC orders probe into housing bond sales

Questions surround the use of funds meant for cheaper homes.

Local branches of the National Development and Reform Commission were sent notices this month instructing them to complete the checks by the end of April, said the people, who asked not to be identified because they weren't authorised to speak publicly about the investigation.

12 Apr 2013 - 5:43am

Suntech Power fails to repay US$541m bond

Suntech's plant in Arizona.

The move pushed what was once the world's biggest solar panel maker into default on credit lines it had with the International Finance Corp and mainland lenders, Suntech said yesterday in a statement from its headquarters in Wuxi.

19 Mar 2013 - 5:34am

Poof! the magic Draghi

Mario Draghi, the president of the European Central Bank, caused an optimistic stir last month with his stirring, almost clarion, promise that the bank was 'ready to do whatever it takes' to preserve the euro. 'Believe me, it will be enough,' he added to underline his resolve. Headlines heralded 'the Magic Draghi'.

15 Aug 2012 - 11:10pm

Asian markets flat as Spain worries rise

Asian markets were flat yesterday as worries over Spain replaced the euphoria over Greece's breakthrough in resolving the political impasse.

The Hang Seng Index edged down 11.14 points, or 0.06 per cent, to close at 19,416.67, while the Shanghai Composite Index slid 0.66 per cent to close at 2,300.80.

20 Jun 2012 - 12:00am

World Bank eyes China's moneyed class

For decades, the Washington-based World Bank went to the biggest financial players in the world when it wanted cash, but now it's eyeing well-heeled retail investors in Hong Kong and mainland China as it seeks to broaden its funding base.

18 Jun 2012 - 12:00am

Glass firm first into the junk debt market

The mainland's high-yield-bond market launched yesterday as Suzhou Huadong Coating Glass successfully sold 50 million yuan worth of two-year debt at an annualised interest rate of 9.5 per cent on the Shanghai Stock Exchange.

9 Jun 2012 - 12:00am

Focus turns to bonds ahead of monetary easing

Agricultural Development Bank of China (ADBC), one of the mainland's largest policy lenders, will sell 15 billion yuan (HK$18 billion) in debt on Thursday.

The aim is to test investors' appetite for bonds amid expectations of further monetary easing by Beijing.

8 May 2012 - 12:00am

Getting to grips with RQFII

Renminbi qualified foreign institutional investor (RQFII) is a mouthful. Clearly the name comes from a policymaker and not a marketing person. Indeed, the scheme arrived courtesy of the China Securities Regulatory Commission, the mainland's main markets regulator.

12 Mar 2012 - 12:00am

Tough Mr Bond can steal the bonus

After six months of competition, the 1010 Happy Valley Million Challenge will come down to its usual nail-biting finish at the city course tonight, with horses who are not in contention standing in the way of the front-runners and Mr Bond looking a great chance to steal the main prize.

29 Feb 2012 - 12:00am